Real Estate Appraiser Independence

Most of you don't know, but the banks control the valuation process. In 2008 the NY AG Cuomo passed the home valuation code of conduct (HVCC) which despite it's name gave the banks and the GSE's total control of the valuation process under the Martin law. This was instituted to take away appraiser independence. This despite the fact that Cuomo found massive mortgage fraud including the banks black lists where appraisers that would not hit value went. The banks now own the appraisal profession and have control of the value of your home. Up or down. They have privatized the appraisal profession so they can take 50% of the fees. ATM. Naturally the banks don't want to hire experienced appraisers because they will not work for these fees. So the most inept and the greatest money makers for the banks get the appraisal assignments - ie... the most inexperienced and least competent because they can control them and the valuations. In a free market banks would not own appraisers and could not compromise independent opinion. This is happening to your and my hurt. Sale fail? You see a bubble happening? Vacant homes in your neighborhood not being taken care of? Directly and indirectly your purse is getting emptied. Do not trust the banks or this housing "recovery". When they have absolute power over the valuation process - it corrupts absolutely. Been there